Jefferies Financial Group Inc. Makes New $1.13 Million Investment in Revvity Inc. (NYSE:RVTY)

Key Points

• Jefferies Financial Group Inc. acquired 10,705 shares of Revvity Inc., valued at approximately $1.13 million, marking a new stake in the company.
• Several brokerages have lowered their price targets for Revvity, with an average price target now at $120.07 and a consensus rating of "Moderate Buy."
• Revvity recently declared a quarterly dividend of $0.07 per share, representing an annualized yield of 0.3%.

Jefferies Financial Group Inc. bought a new position in Revvity Inc. (NYSE:RVTY - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 10,705 shares of the company's stock, valued at approximately $1,133,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Nissay Asset Management Corp Japan ADV raised its holdings in shares of Revvity by 0.6% in the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 15,023 shares of the company's stock valued at $1,682,000 after acquiring an additional 91 shares in the last quarter. Quarry LP increased its position in shares of Revvity by 45.7% in the fourth quarter. Quarry LP now owns 303 shares of the company's stock valued at $34,000 after acquiring an additional 95 shares during the period. HB Wealth Management LLC lifted its holdings in Revvity by 4.8% in the 1st quarter. HB Wealth Management LLC now owns 2,494 shares of the company's stock worth $264,000 after buying an additional 114 shares during the period. RDA Financial Network boosted its holdings in Revvity by 3.6% in the first quarter. RDA Financial Network now owns 3,331 shares of the company's stock valued at $352,000 after acquiring an additional 115 shares in the last quarter. Finally, Continuum Advisory LLC lifted its holdings in Revvity by 39.3% in the fourth quarter. Continuum Advisory LLC now owns 471 shares of the company's stock worth $53,000 after buying an additional 133 shares during the period. 86.65% of the stock is currently owned by institutional investors.

Revvity Trading Up 0.3%

Shares of NYSE RVTY traded up $0.24 during midday trading on Friday, hitting $86.70. The company's stock had a trading volume of 324,530 shares, compared to its average volume of 1,180,858. The business's 50 day moving average is $95.20 and its two-hundred day moving average is $101.66. The company has a current ratio of 3.33, a quick ratio of 2.75 and a debt-to-equity ratio of 0.43. The firm has a market cap of $10.22 billion, a P/E ratio of 36.73, a price-to-earnings-growth ratio of 2.30 and a beta of 0.91. Revvity Inc. has a 12-month low of $85.12 and a 12-month high of $129.50.

Revvity (NYSE:RVTY - Get Free Report) last issued its earnings results on Monday, July 28th. The company reported $1.18 earnings per share for the quarter, beating analysts' consensus estimates of $1.14 by $0.04. Revvity had a return on equity of 7.66% and a net margin of 10.19%. The business had revenue of $720.28 million during the quarter, compared to analyst estimates of $711.26 million. During the same period in the previous year, the company posted $1.22 EPS. Revvity's revenue was up 4.1% on a year-over-year basis. As a group, equities research analysts expect that Revvity Inc. will post 4.94 EPS for the current year.

Revvity Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 7th. Shareholders of record on Friday, October 17th will be issued a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Friday, October 17th. Revvity's payout ratio is currently 11.86%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on RVTY. UBS Group upgraded shares of Revvity from a "neutral" rating to a "buy" rating and dropped their target price for the company from $145.00 to $115.00 in a report on Thursday, May 1st. The Goldman Sachs Group reduced their price target on shares of Revvity from $140.00 to $125.00 and set a "buy" rating for the company in a research note on Tuesday, April 29th. Bank of America cut their price target on Revvity from $116.00 to $110.00 and set a "buy" rating for the company in a research note on Thursday, June 26th. Wells Fargo & Company cut their price target on Revvity from $130.00 to $102.00 and set an "equal weight" rating for the company in a report on Thursday, April 17th. Finally, Evercore ISI lowered their target price on shares of Revvity from $116.00 to $115.00 and set an "outperform" rating on the stock in a research note on Tuesday, July 8th. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $120.07.

Revvity Profile

Revvity, Inc provides health sciences solutions, technologies, and services in the Americas, Europe, and Asia, and internationally. The Life Sciences segment provides instruments, reagents, informatics, software, subscriptions, detection, imaging technologies, warranties, training, and services. Its Diagnostics segment provides instruments, reagents, assay platforms, and software products for the early detection of genetic disorders, such as pregnancy and early childhood, as well as infectious disease testing in the diagnostics market.